What is the difference between inflation and deflation

Inflation refers to rise in price of goods and services.

Deflation refers to decrease in price of goods and services.

Explanation:

Inflation:

Inflation refers to rise in price of goods and services.

This occurs as a result of increase in demand of goods, due to which it's availability decreases and as a result price increases.

Deflation;

Deflation refers to decrease in price of goods and services.

This occurs as a result of decrease in demand of goods, due to number of goods available in the market increases and as a result price decreases.

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